Thursday, November 21, 2013

Ixia Gets Nasdaq Warning

More troubles have surfaced over at Calabasas-based Ixia, the developer of network analysis hardware and software, as its reported late yesterday that it has received a notice from the NASDAQ, saying that it no longer complies with a Nasdaq listing rule covering the filing of periodic financial reports. The warning is a direct result of the company's announcement on Monday that it is delaying its latest quarterly report, the result of a review of the company's financial information triggered by the sudden resignation of CEO Victor Alston, after it was discovered that Alston had falsified his educational background. Ixia said it has until January 18th to submit a plan to the Nasdaq to regain compliance with its listing rules. The warning from the Nasdaq is the first step in a potential delisting for the company, if it does not regain compliance with the Nasdaq's listing rules.